Following in the footsteps of the Financial Conduct Authority in the United Kingdom once again, the Australian Government has recently released their response to the Financial Systems Inquiry which approves increased scrutiny by the ASIC of changes in control of Australian Financial Services Licences (AFSL). In the wake of the failed Playtech and Plus500 deal, where the FCA raised concerns about Playtech’s acquisition of Plus500, Australia appears to be moving towards a similar model which will allow the ASIC the ability to approve or reject changes in control of AFSLs.
Alicia works across both Sophie Grace Pty Ltd and Sophie Grace Legal Pty Ltd with a particular focus on compliance and legal services. She manages the licensing and compliance aspects of the business. She is responsible for AFSL and ACL applications, variations and assists the compliance team in the implementation of compliance reviews. She provides ongoing compliance support and assists with the preparation of legal advice, commercial agreements and disclosure documents.